Revolution Medicines (NASDAQ:RVMD) Price Target Raised to $68.00

Revolution Medicines (NASDAQ:RVMD) had its price target boosted by Needham & Company LLC from $61.00 to $68.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Oppenheimer upped their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Wedbush reissued an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. Piper Sandler upped their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Barclays lifted their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and an average price target of $61.00.

Revolution Medicines Stock Up 2.3 %

NASDAQ:RVMD opened at $60.44 on Thursday. Revolution Medicines has a 52-week low of $18.79 and a 52-week high of $61.06. The stock has a fifty day simple moving average of $47.56 and a 200-day simple moving average of $43.17. The company has a market capitalization of $10.17 billion, a PE ratio of -16.84 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the firm posted ($0.99) EPS. As a group, equities analysts anticipate that Revolution Medicines will post -3.37 earnings per share for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the transaction, the insider now owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Margaret A. Horn sold 50,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the sale, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Michael Kelsey sold 16,666 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now owns 264,408 shares in the company, valued at $13,085,551.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC raised its position in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares during the period. Values First Advisors Inc. acquired a new position in shares of Revolution Medicines during the third quarter worth about $93,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Revolution Medicines during the first quarter worth about $104,000. Finally, KBC Group NV boosted its position in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.